Companies working in exploring oil & gas in KP to be provided conducive environment: CM.
PESHAWAR: Khyber Pakhtunkhwa (KP) Chief Minister Mahmood Khan Saturday assured all out support to address to the issues of Khyber Pakhtunkhwa Oil and Gas Company Limited (KPOGCL) saying that it was encouraging that now the company was working on professional lines to achieve its targets for exploring oil and gas in the province.
He said this province had rich potential of oil and gas that could be utilized for the prosperity of the province. The government would provide an ideal environment and facilities to the investors for this purpose, the chief minister added.
He was presiding over a meeting here at Chief Minister Secretariat. Provincial Minister for Information Shaukat Yousafzai, Advisor to CM on Energy Hamayatullah Khan, Secretary Energy, representatives of KPOGCL and other concerned attended the meeting.
The meeting was briefed about the establishment of KPOGCL, its domain, ongoing activities and its plan for future. The meeting was informed that KPOGCL had been established as holding company of Khyber Pakhtunkhwa in 2014.
However due to some other activities, the company could not achieve its real targets. On the directives of PTI provincial government, the company has been realigned and board of company has also been reconstituted.
Now it was working on practicable lines in order to explore and utilize the advantages of province in the sector of Oil & Gas. The meeting on the proposal of concerned department, agreed with the need to attract investors and technology in this sector.
The chief minister said that provincial government would extend its all out support to the company in order to resolve its issues. The meeting was also briefed about the ongoing activities of KPOGCL and told that Lucky block was awarded in September 2018.
The area of Lucky block comprised Bannu, Lucky Marwat and Dera Ismail Khan. The expected net profit from this
project is round about Rs. 30 billion.
Geological mapping and scouting has been done. Seismic tender has also been floated. But the company was also trying to get expansion in this block for which cooperation of provincial government is required.
The chief minister assured for all possible support from the provincial government in this regard.
It was also revealed that there were at least six blocks in newly merged districts of erstwhile FATA on which home work was also in progress.
The meeting also proposed a model to provide gas through cylinders in the backward villages of gas producing districts. This model could be launched and implemented on the desire and approval of provincial government.
The Chief Minister on this occasion agreed to formally inaugurate the Oil refinery Karak and directed to convene a meeting of concerned authorities to finalize all requirements in this regard. He also asked about the progress to utilize the available gas for providing cheap and uninterrupted electricity in economic zones of Hattar, Rashakai and Dera Ismail Khan and directed for progress review meeting on this project.